Requisition ID: 104747Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
The Senior Analyst Group Treasury Product Control is a member of Product Control team, responsible for providing P&L and Accounting support for several books and / or strategies for Group Treasury.
The Product Control Department is the Profit & Loss control group providing support to Scotiabank Global Banking & Markets. Product Control is responsible for P&L reporting, P&L and risk attribution and analysis, valuation & independent price verification (IPV), reconciliation of reported P&L to Front Office estimates and to the general ledger, the substantiation of balance sheet accounts, issue identification and resolution, and the maintenance of business performance and control MIS.
As the Product Control function is still relatively new to Scotiabank, the Senior Analyst should provide a proactive and dynamic approach.
The position is based in Toronto.
You will play a key role in the maintenance of an efficient and risk effective control environment for Group Treasury Product Control. You will be responsible for:
1. Produce and report daily P&L. Confirmation of P&L integrity/ validation through risk-based attribution. Reconciliation of daily P&L to FO expectations with corresponding P&L explanatory to ensure P&L Sign-off by the Front Office. Coordination and resolution of P&L breaks between FO and Product Control through collaborative dialogue.
2. Ensuring daily reported P&L is reconciled to the Banks General Ledger and associated source system sub ledgers. Adoption of a proactive approach to ensure breaks are escalated and resolved on a timely basis as required by established workflows. Ensuring balance sheet accounts are substantiated and that all accounting issues are resolved on a timely basis. Orchestrate and complete the Month-End Close Sign-off and MIS Package.
3. Strong understanding of risk analytics to develop and implement infrastructure processes aimed at effectively capturing and reflecting risk profile of business.
4. Production, Review and Analysis of IPV, Reserves and Fair Value Adjustments as may be required in agreement with Risk Management and as required by Bank Guidelines. The coordination and timely resolution of Issues with the Front and Back Offices, and Risk Management.
5. Supporting other financial reporting needs as may be required.
You will support the Manager and Senior Manager in establishing support for new products/business in a controlled manner and actively engage in requests for support, analysis and information from various constituents including the Front Office, Risk Management, Operations, Finance, Audit and Regulators.
Group Treasury employ multiple products supported across multiple processing systems, multiple exchanges and spanning various bank legal entities. The primary product offerings include fixed income products, structured notes, equities, derivatives. You must have the experience required to establish expert knowledge of the business profit model and the ability to deliver accurate P&L and Attribution Analysis for the assigned books.
You must have:
Experience with P&L construction and risk attribution, capital markets accounting, balance sheet substantiation and IPV process.
Degree in Mathematics, Statistics, Computer Science, Financial Mathematics, Financial Engineering in combination with business / accounting is preferred.
A professional accounting designation is preferred. A CFA or FRM will also be an asset.
A minimum of 2 4 years in relevant hands-on experience in Product Control (alternatively, Middle Office, Product Control, Finance or Operations) supporting a Capital Markets environment.
Expert knowledge of P&L and Balance Sheet control backed by a Business Degree focused on Finance and Accounting and/ or Risk Analytics. A professional accounting designation is preferred. A CFA or FRM will also be an asset.
A solid understanding of Bank accounting policies, trading policies, market practice, regulatory requirements and the inherent risks associated with all of capital market products.
Strong problem-solving skills and proficiency with Excel.
Strong communication skills and the ability to interact with a demanding Front-Office client base.
You must have leadership ability, be self-motivated and be able to operate in a back-up capacity to the Manager
Location(s): Canada : Ontario : Toronto Scotiabank is a leading bank in the Americas. Guided by our purpose: “for every future”, we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, please click here. Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.